Bennett, Coleman & Co trims stake in Future Consumer by 2.09 pc

Media company Bennett, Coleman & Co Ltd has trimmed its stake in Future Consumer by selling over 4 crore shares, representing 2.09 per cent, through open market transactions. Future Consumer had said the COVID-19 pandemic has caused an adverse impact on its financials.

Media company Bennett, Coleman & Co Ltd has trimmed its stake in Future Consumer by selling over 4 crore shares, representing 2.09 per cent, through open market transactions. As per the regulatory filing, Bennett, Coleman & Co Ltd, which had 6.33 per cent stake earlier, sold 4,00,62,322 shares in the open market in several tranches.

After the transaction, Bennett, Coleman & Co Ltd's holding in Future Consumer has come down to 4.25 per cent. Last month, Future Consumer had reported widening of consolidated loss to Rs 146.83 crore for the quarter ended September 30, 2020, as against a loss of Rs 16.75 crore in the same period last year.

The company's total income during the period under review fell sharply to Rs 244.89 crore as against Rs 1,127.17 crore in the year-ago period. Future Consumer had said the COVID-19 pandemic has caused an adverse impact on its financials.